Lacey, WA—98503
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lacey, WA
As of Oct '25, the median home price in Lacey, WA is $478,000, with a year-over-year change of -0.1%. This indicates that home prices in Lacey, WA are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $478,000 | -0.1% |
| Single Family | $478,000 | -0.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $386,000 | 0.3% |
3 Bed | $467,000 | -0.2% |
4 Bed | $533,000 | 0.4% |
| 5 Bed | $592,000 | 0.3% |
% of Housing Stock
Rental Trends — Lacey, WA
As of July '25, Rentcast reports the average rent in Lacey, WA is $2,180, with a year-over-year rent change of -1.4%. Per bedroom, the median rent as of July '25 in Lacey, WA is studios: $1,500, 1-bedrooms: $1,450, 2-bedrooms: $1,820, 3-bedrooms: $2,380, 4-bedrooms: $2,830. The most common rental property sizes in Lacey, WA are 2-bedroom and 1-bedroom, accounting for 46.6% and 23.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,180 |
| Studio Rent | $1,550 | $1,500 |
| 1 Bed Rent | $1,450 | $1,450 |
| 2 Bed Rent | $1,830 | $1,820 |
| 3 Bed Rent | $2,350 | $2,380 |
| 4 Bed Rent | $2,850 | $2,830 |
% of Rental Stock
Property Listings — Lacey, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lacey, WA is 49. This is a increase of 34.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $510,000 | 4.0% |
Listing Count | 112 | 35.0% |
| Listings as % of Homes | 0.2% | 35.0% |
Days on Market | 49 | 34.0% |
Demographics — Lacey, WA
As of the latest ACS Survey released in 2023, Lacey, WA has a population of 42,200, which has increased by 7.3% over the past 5 years. Lacey, WA is a moderately popular place for families, as children make up 17.2% of the population. The area has a moderately educated workforce, with 30.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,200 | 7.3% |
% Under 18 | 17.2% | -23.9% |
% Seniors | 20.7% | 21.1% |
% WFH | 14.4% | 188.0% |
% w/ College Degree | 30.8% | 0.7% |
As of the latest ACS Survey released in 2023, Lacey, WA is a predominantly white area, with 64.6% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Lacey, WA is hispanic, making up 11.9% of the population. Foreign-born residents account for 10.5% of the population in Lacey, WA, and this percentage has increased by 10.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 64.6% | -2.7% |
% Black | 5.2% | -21.2% |
% Hispanic | 11.9% | 1.7% |
% Asian | 7.5% | 5.6% |
% Foreign Born | 10.5% | 10.5% |
Mortgage and Risk — Lacey, WA
According to HUD data as of 2023, there were 285 mortgage originations in Lacey, WA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Lacey, WA. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 285 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Lacey, WA
As of 2024, the percent of homes in Lacey, WA under the Section 8 program is 7.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Lacey, WA, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 578 |
Total Units Section 8 | 577 |
% Rentals under Section 8 | 7.9% |
% Occupied Section 8 | 84.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,450 | $1,570 |
| 2 Bedroom | -$10 | $1,830 | $1,820 |
| 3 Bedroom | $140 | $2,350 | $2,490 |
| 4 Bedroom | $210 | $2,850 | $3,060 |
Affordability — Lacey, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $478,000 |
| Median Household Income | $87,500 |